Question

A man deposited Rs. 8,000 in a bank for 3 years at 5% per annum compound interest. After 3 years he will get,

• A. Rs. 8,800
• B. Rs. 9,000
• C. Rs. 9, 200
• D. Rs. 9,261

Answer 1

The correct option is D Rs. 9,261

$A=P(1+\frac{R}{100}{)}^n$

$A=8000(1+0.05{)}^3$

$A=9261$